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Samsung C&T Signs an Agreement on 10-year Cooperation with Shandong Ruyi Group

DATE : 2018.11.19COUNT : 299

On
November 18, Samsung C&T signed an agreement with Shandong Ruyi Group of
China to further the bilateral cooperation for the next decade. Through the
signing ceremony, the two companies celebrated the cooperative relationship
of the past 10 years and expressed their commitment to maintain close ties for
the next decade with a view to achieve mutual growth.

Chairman
Qui Yafu, President Sun Weiying and General Manager Li Dongmei of Shandong Ruyi
Group, Party Secretary Fu Ming Xian of Jining, Shandong Province as well as
President Koh Jung Suk and executives and staff of Samsung C&T participated
in the signing ceremony which proceeded in the order of introduction videos
of the two companies, opening remarks by the two representatives and Party Secretary
of Jining City, and the signing of the ‘Agreement on 10-year Cooperation’
for mutual development.

Shandong
Ruyi Group is a global textile company that operates more than 6,000 shops in
81 countries worldwide. Recently, the group has positioned itself as one of
the most influential global enterprises in the fashion industry by acquiring
about 30 global fashion brands including Sandro, Maje, Claudie Pierlot, and
Bally.

In
his welcoming address, President Koh Jung Suk said he hopes “the signing of
this agreement will take the partnership to new heights and help achieve win-win
growth.”

With
the signing of the Agreement on 10-year Cooperation, Samsung C&T will cooperate
more closely with Shandong Ruyi Group and tap into the strengths of both companies
to maximize synergy with the aim of discovering new areas of collaboration in
various businesses including fashion, in addition to the raw cotton business
currently under way.